D What is the equilibrium income and expenditure?

This preview shows page 1 - 3 out of 3 pages.

2017/10/4 Lab 3 (Question 3) ~ Lyryx Learning Inc PRINT Help Lab 3 (Question 3) Name: Junjie Chen Date: 2017-10-04 13:48 Question 3 [8 points] The following diagram shows the aggregate expenditure schedule for the economy and the equilibrium condition on the 45 degree line. Round all answers to the nearest whole number. a) Suppose output is K. What is the level of planned aggregate expenditure? Is planned expenditure greater or less than output? b) What is the size of the unplanned change in inventories at output K. c) How will business firms respond to this situation? .
1/3 d) What is the equilibrium income and expenditure?
2017/10/4 Lab 3 (Question 3) ~ Lyryx Learning Inc

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture